European insurance companies seek to reduce risks from CO2 and coal

European Insurance companies - Focus on Europe

The sector is creating its own plan in the name of climate change and cutting back on its risks. European insurance companies are boosting their investments in green energy at the same time that they’re letting go of certain carbon intensive businesses. This move is being made for the purpose of doing their part to cut back on risks associated with climate change. This move was announced at the same time that 200 countries meet in Poland to discuss climate initiatives. As a growing number of countries around the world…

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Consumer data rules could affect the insurance industry in Europe

europe insurance news industry

EU introduces draft regulation that is meant to protect consumer information Protecting consumer data is becoming a more important issue for the insurance industry. In Europe, insurance companies may have to take the security of personal data more seriously, pending new rules being debated by the European Union. The European Union has released a draft regulation concerning the protection of consumer data. Protection standards for the draft regulation were initially introduced by the European Commission in 2012 in order to address issues concerning advancing technology and the globalization of the…

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Property and casualty insurance industry will continue holding strong

Property and Casualty Insurance

Moody’s has released its global predictions and has suggested that P&C will remain stable. Moody’s Investors Service Inc. has now released its predictions regarding the global property and casualty insurance industry, and they have designated its future as being “stable” for the next while. This data was first released at the end of last week as Moody’s provided its industry forecasts. Moody’s put out its “2014 Outlook – Global P&C Insurance” report and, within it, the firm showed that property and casualty insurance premiums will be continuing their growth within…

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Vienna Insurance misses mark on profit estimations

Vienna Insurance misses mark

Vienna Insurance profit predictions derailed Vienna Insurance Group, the largest insurance organization in Eastern Europe, has missed its own profit estimations for the 2012 fiscal year. Several factors have come together to derail the insurer’s predictions, with fourth quarter earnings showing signs of struggle as these factors culminated toward the end of the year. While the insurer did see gains, they were not as promising as had been previously expected, thus leading Vienna Insurance to revise its approach to 2013. Pre-tax profits reach $780 million in 2012 The company’s pre-tax…

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EU insurance regulations may be put on hold

Insurance industry News

Insurance regulations may be delayed for up to two years European insurance companies could get a break from the looming insurance regulations that are coming from the European Union. These regulations, which will cause serious changes in the European insurance industry and could push some smaller companies out of business, are currently scheduled to take effect in January, 2014. The insurance regulations put strict capital requirements on insurance companies and have been the source of controversy for some time. Now, a top European insurance regulator is working to have the…

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Italy turns to the insurance industry to help with crippling debt crisis

Italy is on the verge of a financial meltdown, which may have dire ramifications for the global economy. Investors and financial institutions have begun casting doubt on Italy’s ability to survive a financial disaster, and now the government is turning to the insurance industry for help. Italian officials are looking to adopt disaster insurance to help mitigate the impact of a potential economic catastrophe. The country’s debt – more than $2 trillion – could mean that it is beyond rescue, even for the insurance industry. The insurance industry in Europe…

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Euro crisis may be worse than the economic recession of 2008, say insurers

The European financial crisis is showing no sign of slowing down as the European Union continues to look for ways to stop what may soon become the world’s most catastrophic financial calamity. EU regulators have turned to the insurance industry to help find a solution to the crisis, but insurers have been leery of lending any aid, as the countries involved in the crisis are exposed to massive risk. The European Insurance and Occupational Pension Authority has released a statement regarding the crisis, calling it worse than the economic disaster…

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